OTTAWA: The Canadian Imperial Bank of Commerce (CIBC) on Wednesday made a US$3.8 billion offer to buy Chicago-based investment bank PrivateBancorp as it looks to expand in the US. CIBC expects to pay US$1.5 billion in cash and issue 29.5 million shares to finance the acquisition, it said in a statement. PrivateBancorp operates in 12 US states and manages assets totaling US$17.7 billion. The takeover bid is expected to be finalized early next year.
IFC invests $20m in Novatex to bolster Pakistan’s packaging exports, sustainable production
ISLAMABAD: The International Finance Corporation (IFC) has announced an investment of up to US$20 million in Pakistan’s leading plastic packaging...
